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Bitcoin Price – Main actors That Can Influence It

How Much is Bitcoin Worth?

Cryptocurrencies are virtual assets that have been around for the past decade. The first and most successful digital currency is called Bitcoin. It was officially launched in 2008 by a man called Satoshi Nakamoto. Since then, this asset made its path through various difficult periods in order to become the most valuable and demanded cryptocurrency on the market. So, if you want to know how much is Bitcoin worth we are going to show you how you can get more details about this cryptocurrency.

Currently, the crypto market is full of various digital currencies, however, none of them is even close to the Bitcoin price. The one thing that cryptocurrencies and the fiat ones are sharing is the volatile market. Various factors are able to immediately lead to sudden shifts that can affect the Bitcoin value.

For example, 2 weeks ago the Bitcoin price USD was about $8,000 and by the time this article was completed, it was around $9,200. The various cryptocurrency charts prove that Bitcoin may experience stark drops or drastic increase in a matter of hours. This is due to a large number of factors that can affect its value.

One of the most significant factors that have an influence on the Bitcoin price is the demand rate. It is proven that when a large number of traders believe that the crypto coin is something that costs a lot, this usually happens for real as the real price of the asset increases, too.

Another important factor related to the price of Bitcoin is the fact that its supply is limited to $21 million. Most of them are already mined and exhausted which triggers the public demand to increase.

Did You Know?

The man behind the creation of Bitcoin is called Satoshi Nakamoto, The interesting fact here is that he is a completely anonymous person. No one has seen him and no one knows how he looks like. Some financial experts and analysts believe that the name is just a nickname and that a whole group of financial specialists and programmers are standing behind it. As of now, however, no one has confirmed or denied the various theories.

What Can Cause Shifts in The Bitcoin Price?

You can easily follow the shifts in the price of Bitcoin by just monitoring its price live. Then, you will easily follow the current movement of its price and value.

There is a curious pattern that you can observe when following the Bitcoin news. If a suggestion appears on the Internet, claiming that the price of Bitcoin will soon go up, investors start to purchase tokens and fractions immediately. This is the perfect example of the supply-demand chain.

Now, we are going to share with you some of the other most important and significant factors that could cause certain shifts in the Bitcoin price:

Trading Behavior – this term is characterized by the specific tendency related to the traders’ behavior. Each time the investing core of crypto traders start to invest more in a given crypto asset, the majority of the rest investors will most likely do the same, thus, creating a behavior pattern that inevitablyreflects on the current price of the cryptocurrency.

Regulatory Impositions – facts show that only a few countries have issued a final and clear position on what to do with Altcoins. The rest part of the globe is still wondering what final decision to make. And this is the main reason why the Bitcoin value is so prone to volatility. For example, as soon as Japan made the decision to accept cryptocurrencies officially, new highs were registered in the chart of the top cryptocurrencies by market cap.-

Follow the Bitcoin News to Be Always Up to Date with Its Value!

If you are willing to start trading with cryptocurrencies, and more especially with Bitcoin tokens, then you should regularly check the most recent news in order to know what to do when placing your trades. Also, you should make sure to use only legit, authentic, and reliable cryptocurrency exchange platforms. This will help you achieve the desired success in the crypto trading field.

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2 Responses to “Bitcoin Price – Main actors That Can Influence It”

Hello Kandra! The prices of the bitcoin and all altcoins are changing each second, so you can check it online when you decide to buy cryptocurrency. There are trading applications which can assist you during the investment process – you will not have to buy the cryptocurrency, but to benefit from the price range. If you want to invest securely you can check our recommended trading apps here.

DISCLAIMER: All Information such as Winning Ratios, Results and Testimonials are to be regarded as simulated or hypothetical. All the information on this website is not intended to produce nor guarantee future results. There's no guarantee of specific results and the results can vary.RISK DISCLAIMER: Forex and CFD trading is highly speculative, carries a level of risk and may not be suitable for all investors. You may lose some or all of your invested capital; therefore, you should not speculate with capital that you cannot afford to lose. You may need to seek 3rd party financial advice before engaging in Forex and CFD trading.